Distributed electronic ledgers, such as block chains, have generated interest in a variety of fields as a decentralized data storage mechanism with reliable redundant validation.
A block chain includes a distributed database comprising blocks of data records (e.g., transaction records). Each block has a timestamp and a hash of the immediately preceding block. Blocks record and confirm valid transactions. Users known as miners perform proof-of-work in the course of generating the blocks. The amount of time needed to perform the proof-of-work can introduce significant delays between the time a valid transaction is first received by one of the miners and incorporation of the transaction into a block.
In addition, the selection of draft instruments for completion of a payment request in a transaction can introduce delays in completion of transactions, such as retail transactions. Current draft selection and/or generation introduces complexities into a transaction, such as, for example, capital verification requirements, identity verification requirements, credit verification requirements, and/or other additional complexities that can increase the time required to authorize or complete a transaction.